We are continuously working on building our dividend fund, which from now on we will call our investing for free-time (IFF) fund. We made a stock purchase in the account on 4/4/17. We bought 18.6567 shares of Target Corporation (TGT) for a total purchase price of $1,000. This will add $45.92 to our estimated annual income. We now own a total of 77.8425 shares of Target Corporation paying an estimated annual dividend of $186.82. This is the second time we have added to our position in TGT in as many months. Our Target position now accounts for over 9 percent of our IFF fund, which is a little high so we will probably not add any more shares in the near future. Currently we are automatically reinvesting all of our dividend payouts. This means that when a dividend is paid out it automatically purchases more shares of the stock that paid the dividend. For example, if the company paid you a quarterly dividend of $50 and the stocks price was $100 per share you would receive another half share of that company (50/100 = 0.5). The best part of this is there are no fees when this type of transaction happens.
